Score an A+ with tax-free education contributions
Saving for college tuition? You can help lessen the burden with tax-free contributions to this unique IRA.
With college costs on the rise, funding your child's education can seem like a daunting task. However, by utilizing the Coverdell Education Savings account, parents, grandparents, or friends can make non-deductible contributions of up to $2,000 per year to help ease the financial burden.
The best part? The earnings accrued are federally tax-free, so long as they are used for qualified education expenses.
Start planning ahead, and invest in your child's future today.
Please note, Kearny Bank does not provide legal or tax advice. Please contact your tax professional with any tax related questions. Visit the IRS.gov for further information.